40% decline in Dish's stock from 2015 to 2019 driven by:
Projected revenue decline of about 20%, primarily due to ~20% decline in subscribers. P/E multiple declining by 60%, due to subscriber losses and concerns regarding spectrum/wireless foray.Slight increase in share count.
This was countered by:
Net income margin rising from 5% in 2015 to a projected 10% in 2019.